The Trump administration’s "baffle 'em with bullshit"methodology has been on full display, as the reopening of the Hormuz chokepoint on Friday drove a broad risk-on in markets: US equities soared, crude collapsed, and Treasury yields declined, based on the assumption that disruption to global energy flows had eased. However, as of early Saturday morning, those moves may prove premature.
The Wall Street Journalreportsthat the world’s most important maritime chokepoint isonce again closed to commercial transit.
About 20 ships waiting to enter the Persian Gulf through the maritime chokepoint have turned back toward Oman after Iran’s military declared the waterway closed again, amid a U.S. blockade of Iranian ports.
The OSINT community on X is reporting a Hormuz closure as well...
A bit of chaos in Hormuz this morning as nearly all of the outbound tankers have abruptly turned around.Follows an announcement by Iranian military leadership that the Strait has "reverted to its previous state of strict military control."pic.twitter.com/XSc6lvxwJo
MERCHANT VESSELS RECEIVE RADIO MESSAGE FROM IRANIAN NAVY SAYING STRAIT OF HORMUZ SHUT AGAIN, NO SHIPS ARE ALLOWED TO PASS THROUGH, SHIPPING SOURCES SAY
The vessels had reportedly been prepared to pay $2 million in tolls to Iran’s Revolutionary Guards to pass through, but radio warnings indicated the strait was closed.
They are now turning back because the Revolutionary Guards are sending radio messages that the strait is closed, according to one Hong Kong owner with a container ship waiting to transit the strait.
Overnight, Iran’s parliament speaker, Mohammad Bagher Ghalibaf,wrote on Xthat President Trump's "false" claims won't help in US-Iran negotiations...
Earlier, President Trump said peace talks with Iran are making progress and will continue over the weekend.
Source: ZeroHedge News
